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What’s Ahead For Mortgage Rates This Week – September 21, 2020

Last week’s economic news included readings on housing market conditions, housing starts, building permits issued, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. National Association of Home Builders Reports Record High Builder Confidence The NAHB reported record high builder confidence in housing market conditions. The Housing Market Index had an index reading of 83 in September as compared to August’s reading of 78. Analysts said that this builder confidence reading was notable due to rising costs for building materials. Component readings of the NAHB Housing Market Index also rose in September. Builder confidence in current single-family housing market conditions rose four points to an index reading of 88; builder confidence in housing market conditions in the next six months...

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Restoring A Patio On A Budget: 3 Simple Tips

There are lots of homeowners who are looking at their patio and are not satisfied with what they see. This is where it is important to think about ways to bring that patio back to life. Whether this means entertaining friends or simply relaxing with a cocktail and a book, there are a few easy ways to bring a patio back to life. 1. Target The Pests There are lots of pests that like to make their homes in the patio. This might include debris that is brought in by the wind, critters that like to dig underneath the patio, or even kids’ toys. There are ways to prevent critters from making their homes in the patio. Simply place pine cones in the nearby area....

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Buying A New Car Impacts The Ability To Buy A New Home

Those who are in the process of buying a new home need to be aware of some of the factors that might influence their ability to do so. Even though credit score, income, and assets will play major roles in whether or not someone might be approved for a loan, there are other factors that will play a role as well. Buying a new car might even have an impact on the homebuying process. Why is this the case? The Debt Payments On The Car Will Play A Role There are multiple ways to buy a car. Some people elect to pay cash for the entire vehicle. While this is a challenge for most families, this will prevent any new debt from being added to...

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4 Ways COVID-19 Has Had An Impact On The Home Lending Process

The COVID-19 pandemic has impacted everyone and this includes the real estate industry. One of the biggest impacts that this pandemic has had involves the home lending process. Because many people are looking for ways to buy a home while engaging in proper social distancing measures, the industry has had to adapt. Learn more about some of the changes the COVID-19 pandemic has forced on the home lending process. Homes Are Getting More Affordable The demand for homes right now is high; however, homes are still more affordable than they have been in the past. Lenders are trying to find ways to encourage people to purchase homes because they have seen a drop in their business as well. As a result, many lenders are willing...

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Speeding Up the Close: Five Tips on How to Close Your Mortgage Loan Faster So You Can Start Moving In

When a seller accepts an offer from a buyer, the process of obtaining the property has just begun. The buyer now has to conduct an inspection, get approval from an attorney and obtain a mortgage – all of which can be time consuming. Here are a few ways that you can speed up the mortgage process and close the deal sooner. Make Sure That You Have Money For Closing Costs Do you have the money needed for a down payment and to pay other closing and prepaid costs? If not, you won’t be able to close until you find the funds to pay those costs – and this could delay the closing on your home indefinitely. Before you arrange the mortgage, make sure you have...

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What’s Ahead For Mortgage Rates This Week – September 14, 2020

Last week’s economic news included readings on inflation, job openings, and weekly reports on jobless claims and mortgage rates. Inflation Rate Slows in August After posting 0.60 percent growth for each month in June and July, the Consumer Price Index rose by 0.40 percent in August. These growth rates offset declines in inflation during the first three months of the COVID-19  pandemic. Used vehicle prices increased after deep discounts offered when the pandemic started; analysts said that rising prices for used vehicles offset losses in previous months and produced low inflation for August. Core inflation, which excludes volatile food and energy sectors, mirrored results for the Consumer Price Index with 0.40 percent growth in August as compared to 0.60 percent growth in consumer prices in...

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